XRP Sees Highest Profit-Taking Ratio Since Aug 2021 Amid 44% Rally
XRP has surged over 44% in the past eight days, with traders raking in profits amid a highly anticipated uptrend. According to data from market intelligence resource Santiment, XRP investors are engaging in profit-taking transactions twice as much as loss-incurring transactions. This bullish turn of events comes amid speculation of an imminent judgment in Ripple's favor in the ongoing SEC litigation. XRP has established a firm position above $0.50 and seeks to conquer $0.55. With a 16.92% gain in the past week, XRP is the highest-gaining asset among the top 80 cryptocurrencies.
Galaxy Still Hopes For US Listing, Application Under SEC Review
Galaxy still plans to list in the US after reorganizing and becoming a Delaware-incorporated company and completing the necessary SEC review. Galaxy’s most recent amended registration was submitted to the SEC in February 2023 and is currently under consideration, the filing noted.
Ripple President Hopeful of a Win in XRP Lawsuit, Predicts When Decision Will Be Pronounced
Ripple's President, Stuart Alderoty, has expressed hope that the company will win its ongoing legal battle with the Securities and Exchange Commission (SEC) over the status of XRP. Alderoty has also predicted that a decision in the case will be pronounced in the coming months.
SEC’s Wells Notice Has Led to Morale Boost at Coinbase: Brian Armstrong
Coinbase CEO Brian Armstrong took to Twitter to share his thoughts on the Wells notice issued by the U.S. Securities and Exchange Commission (SEC) last week, stating that it had led to a noticeable boost in morale. He emphasized the importance of continuing to develop and contribute to the firm's product line. Additionally, Coinbase is encouraging developers and builders on Base, its Ethereum layer 2, to focus on flatcoins or non-fiat pegged stablecoins, among other critical areas. Flatcoins are stablecoins that track the rate of inflation, enabling users to have stability while limiting exposure to economic uncertainties. The American crypto giant cited the recent turmoil in the banking industry to highlight the need for such a stablecoin. The blog post also listed three other areas for builders on Base to focus on, with the Base Ecosystem Fund offering early-stage investment in projects.
XRP Lawsuit Summary Judgment May Land This Week, Suggests Case Insider
The ongoing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) over XRP is waiting for the U.S. District Court to announce a Summary Judgment, which is expected to make or break Ripple's native crypto, XRP price ahead. Attorney John Deaton, who is involved in the XRP lawsuit, has suggested that a ruling in the case is closer than it appears and could be announced within the next few weeks. He added that a judgment may even be announced this week. Deaton also stated that XRP currently holds the most attractive risks/reward ratio for investors, and even if the SEC wins, Ripple and the defendants can appeal in court and gain the status quo.
Deaton Taps XRP as an Attractive Investment at Current Prices
As we approach a ruling in the United States Securities and Exchange Commission (SEC) case against Ripple, speculations about its potential implications on the price of XRP have soared. In a tweet yesterday, Attorney John E. Deaton, who represents thousands of XRP holders as a friend of the court in the extended legal battle, lent his voice to these speculations.
SEC Charges Justin Sun, Issues Coinbase Wells Notice; Nasdaq Eyes Crypto Custody | Cointime Weekly Mar.19 – Mar.25
French lawmakers agree to ban crypto influencer promotions; U.S. IRS seeks to tax NFTs like other collectibles; character Ai receives $150M funding from a16z and others; how effective is GPT for auditing smart contracts?
Bitwise CIO Sees ‘No Path Forward’ for Spot Bitcoin ETF
Bitwise believes there is currently "no path forward" for a spot Bitcoin ETF with the SEC. Thus the company does not have an application with the regulator at this time, the company’s CIO Matthew Hougan told Pensions & Investments.
SEC Sues Tron Founder Justin Sun for Securities Violations: A Closer Look at Tron Network and TRX Token
SEC alleged that TRX and BTT are unregistered securities, and claimed Sun created an "extensive wash trading" program to boost their trading volume.
SEC Cautions Investors on the Risks of Investing in Crypto Asset Securities
The warning also highlighted that crypto exchanges may not have sufficient protections in place for investors.
